Iberdrola has reported a 17% increase in net profit to €3.64 billion (£3.1bn), driven by an €11 billion (£9.5bn) investment.
The company has revised its full-year net profit outlook to expect double-digit growth, excluding additional capital gains from asset rotation.
They plan to maintain net debt at 2022 levels, supported by a robust operating cash flow of €11.1 billion (£9.68bn) in the past year.
Iberdrola’s strategic focus includes network expansion, with regulatory frameworks covering 96% of the asset base until 2025 and substantial growth in renewable capacity, including 3,100MW of new capacity added in the last year.
The company is also investing significantly in offshore wind projects, with 3,500MW currently under construction, set to reach 4,800MW by 2026/27.
